A Reverse mortgage broker Edmonton is a unique loan designed for homeowners aged 55 and above, enabling them to borrow against their home's equity. Unlike conventional mortgages where homeowners make payments to the lender, with a reverse mortgage, the lender disburses payments to the homeowner, either as a lump sum, regular installments, or via a line of credit. Repayment, plus interest, occurs when the homeowner sells the house, relocates, or passes away.
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